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February 27, 2004
Ableauctions Announces Strong Start To iTrustee.com Operations FIFE, WASHINGTON - February 27, 2004 - Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that it has received preliminary orders exceeding $250,000 through its iTrustee and Unlimited Closeouts operations. On successful completion, the deposit-secured transactions alone are expected to more than double the Company's quarterly revenue compared to the same time last year, and increase gross profits by more than $65,000. iTrustee.com Technologies Ltd. and Unlimited Closeouts Inc. are wholly owned subsidiaries of Ableauctions.com Inc. iTrustee.com is a reseller platform designed to expose bank and trustee inventories, as well as distressed merchandise, exclusively to resellers, auctioneers and liquidators. For more information please visit www. iTrustee.com About Ableauctions.com Ableauctions.com is a high-tech auctioneer that conducts auctions live and simultaneously broadcasts them over the Internet. With the experience of 3,000 auctions, the Company has developed its own technology to broadcast auctions over the Internet (www.ableauctions.com/technology) and currently provides the technology and related services to auction houses, enabling them to broadcast auctions over the Internet. For a comprehensive Corporate Update and prior releases, visit www.ableauctions.com. For more information, contact Investor Relations at investorrelations@ableauctions.com.About iCollector.com iCollector.com is a wholly owned subsidiary of Ableauctions and is the independent connection to the world's auction houses. Founded in 1994, it was the first company dedicated to trading antiques, fine art and premium collectibles on the Internet. Today iCollector.com represents some of the world's leading auction houses. Since January 2001, its alliance with eBay Live Auctions has resulted in hundreds of Live Auctions being broadcast in real-time, directly to the salesroom as the auction happens, selling tens of thousands of lots to many thousands of users online. With its unparalleled understanding and expertise in this sector, iCollector can help you to maximize your opportunities to find, buy or sell art, antiques and collectibles online. |